Creative Planning Takes $72,000 Position in First Majestic Silver Corp. (NYSE:AG)

Creative Planning bought a new position in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,979 shares of the mining company’s stock, valued at approximately $72,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of First Majestic Silver by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 10,451,621 shares of the mining company’s stock worth $61,456,000 after buying an additional 186,570 shares during the last quarter. Tidal Investments LLC raised its stake in First Majestic Silver by 6,929.4% during the 1st quarter. Tidal Investments LLC now owns 5,174,889 shares of the mining company’s stock worth $30,406,000 after acquiring an additional 5,101,271 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in First Majestic Silver by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,158,908 shares of the mining company’s stock valued at $18,701,000 after acquiring an additional 103,232 shares during the last quarter. TD Asset Management Inc boosted its stake in First Majestic Silver by 0.8% in the second quarter. TD Asset Management Inc now owns 774,530 shares of the mining company’s stock valued at $4,585,000 after acquiring an additional 5,868 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of First Majestic Silver during the second quarter worth about $3,904,000. 27.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AG. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, September 6th. HC Wainwright reissued a “buy” rating and issued a $8.50 price objective on shares of First Majestic Silver in a report on Friday, October 18th.

First Majestic Silver Price Performance

Shares of AG opened at $6.30 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.44 and a current ratio of 3.05. First Majestic Silver Corp. has a fifty-two week low of $4.17 and a fifty-two week high of $8.44. The firm has a 50-day simple moving average of $6.43 and a 200-day simple moving average of $6.36. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -23.00 and a beta of 1.31.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, November 7th. The mining company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.12). The company had revenue of $146.09 million during the quarter. First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.20%. On average, equities research analysts anticipate that First Majestic Silver Corp. will post -0.13 earnings per share for the current year.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.0048 dividend. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Friday, November 15th. First Majestic Silver’s payout ratio is currently -3.70%.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.